IMF Staff Country Reports

Jamaica: 2018 Article IV Consultation, Third Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria-Press Release and Staff Report

Publication Date:

April 16, 2018

Electronic Access:

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Summary:

This 2018 Article IV Consultation highlights that Jamaica’s GDP growth is estimated to have been a disappointing 0.5 percent in 2017. Weakness in agriculture, slow recovery in mining, and a deceleration in manufacturing offset growth in tourism and construction. The growth forecast is being revised down to 0.9 percent in FY17/18 and about 2.25 percent in the medium term. Inflation remains well-anchored. Higher food prices resulting from flooding have begun to unwind. The current account deficit remains relatively low (at 2.8 percent of GDP in FY17/18) and it is expected to shrink over the medium-term, as oil prices remain contained and tourism earnings improve.

Series:

Country Report No. 2018/103

Subject:

Crime Economic sectors Expenditure PFM legal and regulatory frameworks Public debt Public financial management (PFM) Public sector